Global Smart Factory and Manufacturing Market likely to witness 9.7% CAGR during 2021-26

According to the MarkNtel Advisors’ research report, “Global Smart Factory and Manufacturing Market Analysis, 2021,” the market is likely to witness around 9.7% CAGR during 2021-26. It owes to several factors like the participation of several industries like automotive, FMCG, pharmaceuticals, and oil & gas, escalating need for an automotive solution has grown in recent years. Furthermore, the high deployment of digital technologies like IoT to achieve improved speed, productivity, and efficiency is another crucial factor likely to propel the market growth in the forecast period, i.e., 2021-26.

?Key questions answered in the study

1. What are the current and future trends in the Global Smart Factory and Manufacturing Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Smart Factory and Manufacturing Market?
5. What is the customer orientation, purchase behavior, and expectations from the Global Smart Factory and Manufacturing Market service providers across various regions?

SCADA Segment to Witness the Fastest Market Growth

Based on the Solution, the SCADA segment is likely to witness the fastest growth in the forecast period. It owes its robust growth to factors like the control & operation of industrial processes that can be managed and accessed remotely. Furthermore, the data from SCADA is considered authentic; hence, it is preferred widely by various manufacturing industries throughout the world, thereby increasing its demand and further propelling the overall market growth.

“Global Smart Factory and Manufacturing Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Smart Factory and Manufacturing providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings. 

North America is Likely to Attain Largest Market Share

North American Market is likely to attain the largest market share in the forecast years. It owes to several factors like the integration helps streamline the supply flow in all the processes associated with the manufacturing, enabling effective movement of materials across the factory floor. Furthermore, combining the digital and physical worlds has revolutionized the automation industry, allowing maximum performance. These factors have brought various market players to invest and to improve performance and efficiency. Hence, the North American market shall attain the largest market share in the coming years. Therefore, based on these aspects, North America is likely to contribute to the overall market growth in the forecast period, states MarkNtel Advisors in their research report, “Global Smart Factory and Manufacturing Market Analysis, 2021.”

According to MarkNtel Advisors, the major leading players in the Global Smart Factory and Manufacturing Market are IBM, Thales, BAE Systems PLC, Senseye, Oden, Aclima, Neiker-Tecnalia, Festo, Seimens, Upskill, Teska Labs, Sick AG, LMI Technologies, Oracle, etc. 

Market Segmentation:

1. By Technology (AI (Artificial Intelligence), IIOT (Industrial Internet of Things), Cloud-based, Blockchain, others)
2. By Application (Manufacturing, Logistics & Transportation, Retail, Storage, Maintenance, Protection from Cybercrime, Construction, Quality Control, Others)
3. By Software Type (SCADA, HMI, PLC, DCS, Others)
4. By Component (Sensors Smart Infrared Cameras, 3D sensors, Others, Controllers, Software Controllers, Drive Controllers, Heating Controllers, Others, Industrial Robots, (Traditional Robots (Articulated Robots, Cartesian Robot, Selective Compliance Assembly Robot Arm (SCARA), Cylindrical Robots, Other Robots), (Collaborative Robots), Others)
5. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
6. By Competitors (IBM, Thales, BAE Systems PLC, Senseye, Oden, Aclima, Neiker-Tecnalia, Festo, Seimens, Upskill, Teska Labs, Sick AG, LMI Technologies, Oracle)